Analysts expect that Textron (NYSE:TXT) will announce $3.58 billion in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Textron’s earnings. The highest sales estimate is $3.62 billion and the lowest is $3.52 billion. Textron reported sales of $3.60 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 0.6%. The firm is scheduled to announce its next earnings results on Wednesday, July 18th.
On average, analysts expect that Textron will report full year sales of $14.55 billion for the current financial year, with estimates ranging from $14.35 billion to $14.79 billion. For the next fiscal year, analysts forecast that the company will report sales of $15.01 billion per share, with estimates ranging from $14.89 billion to $15.23 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow Textron.
Textron (NYSE:TXT) last announced its quarterly earnings results on Wednesday, April 18th. The aerospace company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.26. Textron had a net margin of 2.74% and a return on equity of 12.65%. The firm had revenue of $3.30 billion during the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter in the prior year, the company earned $0.46 EPS. The company’s revenue was up 6.6% compared to the same quarter last year.
Several brokerages have recently weighed in on TXT. Robert W. Baird upped their price target on shares of Textron from $68.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, April 19th. ValuEngine raised shares of Textron from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 19th. Barclays upped their price target on shares of Textron from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, April 19th. Stephens set a $66.00 price target on shares of Textron and gave the stock a “hold” rating in a research report on Monday, April 16th. Finally, Morgan Stanley lowered their price target on shares of Textron from $60.00 to $59.00 and set a “hold” rating for the company in a research report on Thursday, April 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Textron has a consensus rating of “Buy” and an average target price of $67.17.
In related news, insider Frank T. Connor sold 80,000 shares of the business’s stock in a transaction that occurred on Friday, April 27th. The shares were sold at an average price of $62.99, for a total transaction of $5,039,200.00. Following the completion of the transaction, the insider now owns 193,724 shares in the company, valued at approximately $12,202,674.76. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Scott C. Donnelly sold 11,988 shares of the business’s stock in a transaction that occurred on Tuesday, May 1st. The stock was sold at an average price of $61.60, for a total transaction of $738,460.80. Following the transaction, the chief executive officer now owns 715,106 shares of the company’s stock, valued at approximately $44,050,529.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 250,225 shares of company stock valued at $15,754,504. 1.20% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of TXT. Ladenburg Thalmann Financial Services Inc. increased its stake in Textron by 6.9% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 14,378 shares of the aerospace company’s stock valued at $813,000 after purchasing an additional 924 shares in the last quarter. MRJ Capital Inc. increased its stake in Textron by 1.8% during the 4th quarter. MRJ Capital Inc. now owns 83,500 shares of the aerospace company’s stock valued at $4,725,000 after purchasing an additional 1,500 shares in the last quarter. Gabelli Funds LLC increased its stake in Textron by 7.1% during the 4th quarter. Gabelli Funds LLC now owns 1,070,500 shares of the aerospace company’s stock valued at $60,580,000 after purchasing an additional 70,500 shares in the last quarter. Boston Partners increased its stake in Textron by 0.4% during the 4th quarter. Boston Partners now owns 3,948,873 shares of the aerospace company’s stock valued at $223,467,000 after purchasing an additional 13,998 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in Textron during the 4th quarter valued at approximately $502,000. Hedge funds and other institutional investors own 83.55% of the company’s stock.
Shares of TXT opened at $66.48 on Wednesday. Textron has a fifty-two week low of $45.00 and a fifty-two week high of $67.43. The company has a market capitalization of $16.98 billion, a PE ratio of 27.13, a price-to-earnings-growth ratio of 1.86 and a beta of 1.39. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.31 and a quick ratio of 1.09.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, July 1st. Investors of record on Friday, June 15th will be paid a dividend of $0.02 per share. The ex-dividend date is Thursday, June 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.12%. Textron’s dividend payout ratio (DPR) is presently 3.27%.
Textron Company Profile
Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. The company's Textron Aviation segment manufactures and sells business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and commercial parts, as well as provides maintenance, inspection, and repair services.
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